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In this paper, a novel compact four element ACS fed printed multiple-input multiple-output (MIMO) antenna is presented with Multi Band characteristics. The tri band MIMO antenna is simulated on an FR4 substrate having (0.368λ0 × 0.368λ0 × 0.012λ0) mm3 dimensions with dielectric constant, er = 4.4. The Proposed tri band MIMO antenna is designed for WiMAX and WLAN operating bands (2.25–2.41, 3.36–3.65, 4.7–6.25) GHz, with an average isolation of 20 dB. The measured average peak gain within operational band is 2.96 dB with an efficiency of 88%. The elements are placed orthogonal to each other to achieve required isolation. The Diversity Performance metrics of the proposed MIMO antenna like ECC, DG, MEG, TARC, CCL and CC are calculated and presented in this article. Performance of the proposed antenna in terms of radiation characteristics when it is used for WAVE applications is observed using ANSYS SAVANT.